Best stock trading apps in Canada

There are many things to consider when choosing the best stock trading app to buy and sell stocks and other securities. We compared fees, features and technology to help you find the best stock trading app in Canada. Whether you are looking for the best stock trading app for beginners, or you are an advanced trader, check out the list of the best stock trading apps below.

The best stock trading apps in Canada

More about the best stock trading apps in Canada

Best stock trading app for commission-free trades

Wealthsimple

Get $25 when you open a Wealthsimple account and fund at least $150.

Finder rating: 3.9 / 5 ★★★★★

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• Go with this platform if you want to trade stocks without any commission fees.

• Look elsewhere if you want to use leverage to trade or you want to trade more complex securities like options.

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  Wealthsimple is all about low fees. It does not charge any commissions on trades. And you can make as many trades as you like, free of charge. There are no annual fees or account minimums. It is one of the lowest-cost trading options available to Canadian investors. Wealthsimple stacks up favourably against the other platforms we looked at when it comes to educational resources and tools, with various savings calculators, articles and investor masterclass videos to teach you the basics. If there is a catch, it's that you are limited in the types of securities you can trade, as Wealthsimple offers mostly stocks and ETFs. You can open a non-registered account, RRSP or TFSA. There is a mobile and web platform, and the application received some of the highest user ratings among platforms we looked at.

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  Signup Offer	Get $25 when you open a Wealthsimple account and fund at least $150.
  Account Fee	$0
  Account Types	RRSP, TFSA, Personal
  Available Asset Types	Stocks, ETFs
  ETF Transaction Cost	Free
  Option Fee	N/A
  Inactivity Fee	$0

Stock Trading Fee	$0
Account Fee	$0
FX Fee	1.50%
Min. Deposit	$0

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Best stock trading app for trading international stocks

Interactive Brokers

Finder rating: 4.1 / 5 ★★★★★

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• Go with this platform if you are an experienced investor who wants low commission on FX, reams of information and fancy analytical tools to help you trade.

• Look elsewhere if you are a new investor.

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  The fact that Interactive Brokers promises to take your investing to the next level signals the type of investors the platform wants to attract. In short, it is well suited to those with plenty of experience in online trading and with plenty of money to trade. It offers access to stock markets in 33 different countries and 68 different order types, including stocks, options, currencies and bonds – far more than other brokerage platforms we looked at. Interactive Brokers has a tiered pricing structure when it comes to commissions. Basically, the more you trade the cheaper it becomes. There is a minimum commission of $1 per trade and a maximum of 0.5% of the total trade value. The Interactive Brokers web portal has a detailed educational section, with webinars, videos and even a Traders' Academy. It also offers analytical tools to help you make better trading decisions. The offering is so detailed it may be daunting for beginners. Interactive Brokers even lets you borrow money to buy shares, something a beginning investor should be very wary about doing.

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  Account Fee	$0
  Account Types	RRSP, TFSA, Joint
  Available Asset Types	Stocks, Bonds, Options, ETFs, Currencies, Futures
  ETF Transaction Cost	Min. $1.00, Max. 0.5%
  Option Fee	$1.50 min. per order

Stock Trading Fee	Max. 0.5%
Account Fee	$0
FX Fee	0.2 bps trade value, min $2.00
Min. Deposit	$0

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Best stock trading app for beginner traders

CIBC Investor's Edge

Young investors 18 to 24 can get free online trades and a $0 annual account fee (conditions apply)

Finder rating: 4 / 5 ★★★★★

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• Go with this platform if you are a beginner who wants the comfort of a well-established financial brand.

• Look elsewhere if you want low fees.

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  CIBC Investor's Edge is an online brokerage that lets you trade a variety of different investment types through its online trading platform. You'll be able to put your money into registered and non-registered accounts, depending on your preferences. The platform is user-friendly and provides a number of resources to help you get acquainted with using the platform. It also gives you access to plenty of research tools to help you make informed decisions about your investments.

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  Signup Offer	Young investors 18 to 24 can get free online trades and a $0 annual account fee (conditions apply)
  Account Fee	$0 if conditions met, else $100/year
  Account Types	RRSP, TFSA, Personal
  Available Asset Types	Stocks, Bonds, Options, Mutual Funds, ETFs
  ETF Transaction Cost	$6.95
  Option Fee	$4.95–$6.95 (+$1.25 per contract)
  Inactivity Fee	$100 a year

Stock Trading Fee	$4.95–$6.95
Account Fee	$100
FX Fee	Varies
Min. Deposit	$0

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Best stock trading app for quality app user-interface

Questrade

Get $50 in free trades when you fund your account with a minimum of $1,000.

Finder rating: 4.2 / 5 ★★★★★

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• Go with this platform if you want low fees and the ability to trade a variety of securities through a highly-rated mobile app.

• Look elsewhere if you want low fees but you aren't ready to start buying anything other than stocks and ETFs.

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  Questrade is one of the cheapest places to buy and sell securities online in Canada. Compared to Wealthsimple, it offers a much larger selection of securities you can trade, including options, foreign currencies and commodity futures. Questrade does not charge an annual fee and you don't pay any commissions when you buy ETFs. Other trading fees range between $4.95 and $9.95. Questrade offers both a web platform and a mobile application, though users complained about lag times on the app.

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  Signup Offer	Get $50 in free trades when you fund your account with a minimum of $1,000.
  Account Fee	$0
  Account Types	RRSP, TFSA, Personal
  Available Asset Types	Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities, Precious Metals
  ETF Transaction Cost	Free
  Option Fee	$9.95 + $1 per contract
  Inactivity Fee	$0

Stock Trading Fee	$4.95-$9.95
Account Fee	$0
FX Fee	1.45%
Min. Deposit	$1,000

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Best stock trading app for a well-rounded mobile trading experience

Qtrade Direct Investing

Get almost $500 in commission free trades when you fund your new account with a minimum of $10,000. Conditions apply. Ends October 31, 2022. Plus, top up your transfer to $15,000 and Qtrade will cover the transfer fee up to $150.

Finder rating: 4.1 / 5 ★★★★★

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• Go with this platform if you want competitive commissions and access to educational tools and online tutorials.

• Look elsewhere if you aren't planning to have a minimum of $25,000 in your account or fund it regularly (since you will incur a quarterly fee).

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  A well-known investment broker, Qtrade Direct Investing offers an easy-to-use online platform and mobile trading platform. With low and competitive commissions, you'll also be able to trade 100 select ETFs commission free. You'll get access to independent research tools and online tutorials designed to help you make more-informed decisions about your investments. One downside is that there's a quarterly fee to maintain your account unless you meet certain requirements.

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  Signup Offer	Get almost $500 in commission free trades when you fund your new account with a minimum of $10,000. Conditions apply. Ends October 31, 2022. Plus, top up your transfer to $15,000 and Qtrade will cover the transfer fee up to $150.
  Account Fee	$0 if conditions met, otherwise $25/quarter
  Account Types	RRSP, RESP, RRIF, TFSA, Personal
  Available Asset Types	Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
  ETF Transaction Cost	$0 - $8.75
  Option Fee	$6.95 - $8.75 + $1.25 per contract
  Inactivity Fee	$0 if conditions met, otherwise $25/quarter

Stock Trading Fee	$6.95 - $8.75
Account Fee	$0 - $25
FX Fee	0.90% for positions under $9,999.00
Min. Deposit	$0

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Best stock trading app for trading commodity stocks

Scotia iTRADE

Finder rating: 3.8 / 5 ★★★★★

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• Go with this platform if you want to be able to trade a variety of assets and are less concerned about trading commissions.

• Look elsewhere if you want a quality mobile experience.

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  Scotiabank is one of Canada's Big Six banks. Commissions start at $9.99 per trade, although this is lowered to $4.99 per trade if you make more than 150 trades per quarter. It charges an annual fee of $100 on accounts with less than a $25,000 balance. Here's a cool thing. Scotia iTrade offers a so-called practice account with a fictional portfolio of $100,000 that lets you use the platform and get your feet wet with different kinds of trades using what is essentially play money. Mobile users weren't impressed with the UI or the overall speed of the experience.

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  Account Fee	$0
  Account Types	RRSP, RESP, RRIF, TFSA, Personal, Business
  Available Asset Types	Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities
  ETF Transaction Cost	$9.99 ($4.99 if completed 150 trades or more a quarter)
  Option Fee	$9.99 + $1.25 contract ($4.99 + $1.25 contract if completed 150 trades or more a quarter)
  Inactivity Fee	$25/year

Stock Trading Fee	$4.99–$9.99
Account Fee	$0
FX Fee	Varies
Min. Deposit	$0

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Best stock trading app from a big bank

BMO InvestorLine

Get up to $2,000 cash back when you open your account. Valid until October 31, 2022.

Finder rating: 3.9 / 5 ★★★★★

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• Go with this platform if you want to take advantage of a cash-back welcome offer.

• Look elsewhere if you have less than $15,000 to trade with and don't want to pay an annual fee to maintain your account.

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  BMO Investorline is not the cheapest, nor the most feature-heavy platform. You'll pay $9.95 per trade and an annual fee if you have less than $15,000 in your account. You can trade stocks, options, ETFs, mutual funds, GICs and bonds. There's no minimum account balance required. Users mentioned that the equity search function sometimes did not work properly on the app. BMO Investorline makes its investment research available to users.

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  Signup Offer	Get up to $2,000 cash back when you open your account. Valid until October 31, 2022.
  Account Fee	$0 if conditions met, otherwise $25/quarter
  Available Asset Types	Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
  ETF Transaction Cost	$0 - $9.95
  Option Fee	$9.95 + $1.25 per options contract

Stock Trading Fee	$9.95
Account Fee	$100
Min. Deposit	$0

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Best stock trading app for ESG investors

MogoTrade

Enjoy commission-free trades and free real-time streaming quotes.

Finder rating: 3.9 / 5 ★★★★★

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• Go with this platform if you want an environmentally-friendly way to invest for free with real time streaming data.

• Look elsewhere if you want to trade on a margin or access more complex securities like options and futures.

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  MogoTrade lets you invest in stocks and exchange-traded funds (ETFs) for free on your phone. There are no minimum balance requirements and no annual fees, and you can access free real time streaming data to help you determine which investments to make. You'll also get a chance to help replant Canadian forests and save the planet every time you invest. The main drawback is that MogoTrade is still in its rollout phase so many features aren't available and there are limited investment types to choose from.

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  Signup Offer	Enjoy commission-free trades and free real-time streaming quotes.
  Account Fee	$0
  Account Types	RRSP, TFSA
  Available Asset Types	Stocks, ETFs
  ETF Transaction Cost	Free
  Option Fee	N/A
  Inactivity Fee	$0

Stock Trading Fee	$0
Account Fee	$0
Min. Deposit	$0

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Best stock trading app for low-cost trading

TD Easy Trade

Finder rating: 3.8 / 5 ★★★★★

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• Go with this platform if you want commission-free trades (and you're making less than 50 trades per year), as well as free learning resources.

• Look elsewhere if you're a seasoned investor and want to work on a more advanced trading platform, or you want unlimited free trades.

• More Info

  TD Easy Trade is a mobile app designed to let you explore investing at a lower cost. It lets you make 50 commission-free trades per year so you can try your hand at investing for free. It also offers built-in videos and master classes to help you learn about investing, and allows you to set goals and track your progress towards them to stay motivated. There are no minimum balance requirements and TD offers a small number of investment types to keep things simple. The main downside is that you won't get unlimited commission-free trades like discount brokerage apps such as Wealthsimple or MogoTrade.

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  Account Fee	$0
  Account Types	RRSP, TFSA
  Available Asset Types	Stocks, ETFs, Cash
  ETF Transaction Cost	Free (for TD ETFs)
  Option Fee	N/A
  Inactivity Fee	$0

Stock Trading Fee	$0
Account Fee	$0
Min. Deposit	$0

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How to find the best stock trading app for you

Before signing up for a stock trading app, consider these factors:

• Fees. Beyond commissions per trade, look into account minimums, transfer fees and varying costs to trade more complex securities.
• Available securities. Some platforms offer a wide range of securities, while others specialize in only one or two.
• Account minimums. Some providers require a minimum amount to be in your trading account and charge you if you don’t have the minimum balance.
• Research tools. Beginners may want an app with educational resources, while active traders will need robust analytics tools.
• Mobile support. Apps typically aren’t as robust as some desktop versions of the same platform. (Note: Not all apps also offer a corresponding desktop trading platform.) Check feedback in Google Play and the App Store.
• Customer feedback. Explore customer feedback in places like the Better Business Bureau and Reddit to find out what investors really think about the platform.
• Security. All of our picks for the best trading app are regulated by IIROC and CIPF, meaning if they go under your money will be protected up to specified amounts. Some providers also offer 2-factor authentication and high-level encryption of data to keep your account safe.

Best stock trading apps if you want to trade with an online brokerage

• Wealthsimple Trade
• Interactive Brokers
• Questrade
• Qtrade
• MogoTrade

Best stock trading apps if you want to trade with a traditional financial institution

• Scotia iTRADE
• CIBC Investor’s Edge
• BMO InvestorLine
• TD Easy Trade

Bottom line

The best stock trading app depends on what kind of investor you are. Be sure to compare fees. But also look at what other resources and features an app offers and how its cost structure matches up with your own trading needs. You can also read more about the best online trading platforms in our guide.

Frequently asked questions about stock trading apps

• What is the best stock trading app in Canada?

  You can use our proprietary ranking system to evaluate the app that’s best for you. Our ranking system breaks down each platform into different categories: fees, available securities, research tools provided, mobile accessibility, and customer feedback. We combine a platform’s rankings in each sub-category to create a single score. Depending on the subcategories that are most important to you, the best app for each user may differ.

  For instance, if your main concern is fees, Wealthsimple Trade ranks the best in terms of cost. If you are looking for the platform with the most robust features and investment options, Interactive Brokers ranks highest in tools and offerings. If you know you’ll be trading a small amount, this will weed out the brokers that require a high minimum account balance.

  Ultimately, the best stock trading app depends on what you’re looking for from your platform.

• What is the best stock trading app for beginners?

  Wealthsimple Trade is a great platform for beginners because it’s easy to navigate, does not charge a trading fee, and offers a variety of educational tools for novice traders.

  CIBC Investor’s Edge is our pick for the best beginner app because it offers a number of research tools and allows you the ability to connect your investment accounts to your chequing for savings accounts. Its features are standard and its brand name is reputable.

  If you want professional help designing and maintaining a stock portfolio, consider using a robo-advisor. Robo-advisors use algorithms (and sometimes a little help from human professionals) to tailor your investment portfolio based on factors like your goals and risk tolerance. Portfolios are automatically readjusted as needed.

• What is the best free stock trading app?

  Wealthsimple Trade is the best free stock trading app, because you can trade commission-free on all Canadian stocks. If you want to trade US stocks, you will need to pay a currency conversion fee, though Wealthsimple’s is lower than industry average.

  While note free, another great option is Questrade, which offers low fees and many account types and traceable securities if you are looking for an account with more capabilities than Wealthsimple.

• Which Canadian banks are best for stock trading?

  All of Canada’s Big Banks offer trading platforms. Each self-directed trading platform is unique in its fee structure, investment requirements, app functionality and offerings.

  If you already have an account at one of Canada’s Big Banks, check to see what type of trading platform is offered. Consider factors like transaction fees, minimum investment amounts and the extent to which you can access professional support. This will help you determine whether to look beyond your bank for stock investing.

• I know what app I want. How do I open an account?

  That’s the easy part! Simply click the “go to site” button beside the provider you wish to use to be taken to their platform for signup. You can read more about how to open a stock trading account in our guide.

• I'm starting out with $1000. How should I invest it?

  You have options. You can check them out in our guide to investing $1000.

• Is day trading legal in Canada?

  Yes. But this is definitely not for the faint of heart or for inexperienced investors. Day traders buy and sell stocks on the same day. It can be lucrative, but also extremely risky. You should also consult with a professional about the tax implications in Canada of money earned from day trading.